QBE Premiums4Good

We think that buying insurance shouldn’t just be about business. We want it to benefit communities at the same time, so we offer customers the chance to make a difference with their premium.

We automatically invest a portion of all customer premiums through Premiums4Good into Social Impact Bonds, Green Bonds, and other similar investments which bring benefits to communities and the environment. In addition, we provide our customers with the option to opt in their entire premium to these investments at no additional cost and QBE retains the investment risk. Once enrolled, the policyholder will receive an annual report showing how Premiums4Good funds have been invested and the difference these investments are making.

This initiative is unique; we’re the first insurer that allows customers to choose for their premiums to be invested in projects that benefit communities and the environment.

Investment highlight: Government of Canada Green Bond

To help achieve Canada’s target of net-zero by 2050, the Government of Canada launched the Green Bond Program in 2022 which funds a variety of climate and environmental initiatives undertaken by the Government.

Included in the allocation of proceeds from the inaugural green bond, the Smart Renewables and Electrification Pathways Program (SREP) is investing up to $1.564 billion over eight years into smart renewable energy and electrical grid modernization projects.

The program supports investment into technology-based initiatives in areas such as wind, solar, geothermal and storage to help replace electricity generated by fossil fuels and reduce the energy system’s reliance on traditional energy.

In addition, the program also aims to have economic and social benefits, including job creation, increased diversity, equity and inclusion, and encourages underrepresented groups to participate in the sector.

1,360 megawatts of additional clean electricity capacity
13 indigenous-owned projects across the program

By October 2022, SREP had supported 94 market-ready technology projects to help increase clean energy capacity by approximately 1,360 megawatts (MW).

These projects include:

Métis Crossing Solar Project: A 5MW solar power project that is expected to generate enough electricity to power all the Métis Nation of Alberta, displacing 4,700 tonnes of CO2 annually.
Burchill Wind Energy Project: An Indigenous-owned project that will produce 42MW of renewable energy, as well as battery energy storage system.
Enabling Youth and Indigenous Energy Solutions: This project helps encourage youth participation in the sector, promoting clean energy development and adaptation in communities in Canada, focusing on underrepresented groups.
Clean Energy and Equity Network: This program will help build the knowledge, skills and tools needed to support clear energy solutions and leadership in Indigenous and African Nova Scotian communities. An important outcome for the program is to facilitate and support Indigenous involvement and ownership of clean energy projects.

Thirteen SREP projects are Indigenous-owned, while the program’s capacity-building stream helps communities and organizations build the knowledge and acquire the tools needed to help develop renewable energy and grid modernization projects.